SEC Votes To Release Proposed Rule That Would Mandate XBRL; Largest Co's First, Smaller Co's and Foreign Filers Phased In

By Edith Orenstein, FEI Financial Reporting Blog - Earlier today (May 14), the SEC voted to release for public comment a proposed rule regarding requirements for public companies to file certain data with the SEC using data tags in eXtensible Business Reporting Language (XBRL). Here is the SEC's press release issued after the open commission meeting.